Canada Quebec CIP Changes Expected

Major changes are expected to the Quebec Immigrant Investor Program (QIIP) in the coming weeks. The amendments published in the government’s official gazette are likely to come into effect in summer 2018. Planned changes include:

• An increase in the investment requirement from C$800,000 to C$1,200,000.
• An increased requirement for the Applicant’s Net Worth from C$1.6 million to C$2 million.
• Intermediaries who finance loans for the program will need to be based in Quebec.

The changes are expected to come into effect no sooner than 45 days following the publication of the draft, which is to say some time in May.

The Quebec Immigrant Investor Program popular as it is the only route to a Canadian permanent resident visa through passive investment. In the last financial year the program had a quota of 1900 applicants.